The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future.
In order to support the digitalization, the ECB has formed a task force, which is “exploring the benefits, risks and operational challenges” of developing a digital euro and is expected to announce its findings within the next few weeks.
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